All Forum Posts by: Pete B.

Hi @Eudith Vacio,

Were you able to sell the property? And also any leads on any condos that do allow Airbnb in chicago area?

@Jonathan Klemm thanks for the info! Are most of your mid-term properties leased, and then re listed to midterm tenants? provided that the building or the landlord allows it. 

So is getting a lease for a 1bed/1bath (or 2bed/1bath) for 12 months, then relisting it for midterm a better play?

@Jonathan Klemm thank you for the explanation. 

Do you guys think Midterm renters are usually just 1 person who prefer a studio or 1bed/1ba? Is it usually solo business professionals ( travel nurses, corporate executives, etc) that rent midterm. 

@Jennie Berger Any thoughts on a 3bed/2 condo (no amenities, just 1 parking but close to Blue line) for Midterm rental, is there a market for that in Chicago area (Logan Square). I feel it would be good as STR but would have to review the building HOA rules (4Unit building).

I’d like to follow this thread. @Shanel Dial what new AirBnB Chicago laws would you be pertaining to that hinders you from continuing your STR business. I would like to also learn more about midterm rentals.

@Jonathan Klemm I'm planning on purchasing a condo in a 4-Unit building in Irving Park area, where rentals are allowed. Given your experience with STR and MTR, would I need any city registration or permits to post on AirBnB as a Midterm rental. Is it necessary to inform the HOA of my plan of doing MTR?

@Jennie Berger mentioned earlier that if you do 32+ days, no permits or license is required.  

Also, as listed on Redfin it is a "Fee Simple Ownership", even though it's a duplexed condo unit in a 4-unit building. Does Fee Simple ownership mean you can rent it out STR or LTR or MTR, as long as HOA allows rentals.